Fidelity Investments is transferring about 1,100 jobs out of Massachusetts to Rhode Island, New Hampshire and elsewhere as it shuts down operations at its Marlborough facility over the next two years.

Spokeswoman Anne Crowley said Tuesday that most of the workers will be offered a chance to follow their jobs to Smithfield, R.I., Merrimack, N.H., and other New England locations. A few will be transferred elsewhere in the country.

Crowley said Fidelity has excess office space and needs to consolidate operations after the mutual fund company shed about 8,000 jobs during the economic crisis. The Marlborough campus has not operated at full capacity for a while. The firm plans to sell that property.

Fidelity purchased the 400 Puritan Way property in December 1994 for $17 million, according to records obtained by The Warren Group, publisher of Banker & Tradesman. The property was last assessed for $27.7 million.

Fidelity is the nation’s second-largest mutual fund company, surpassed last year by Vanguard Group in the top slot based on fund assets. (AP)